Finance Ministry says PTI govt faring better than PML-N

The finance ministry has said that the current account deficit in the tenure of PML-N government was $19billion which came down to $1.90 billion during the PTI government, reported 24NewsHD TV channel. 

While enumerating the PTI government achievements during a presser on Monday, finance ministry spokesman Muzammil Aslam said that the present government brought down the current account deficit as it had risen to $19 billion during the PML-N government and the PTI government cut it down to $1.90 billion. 

The spokesman revealed that during the previous PML-N government in 2018, the PIA was incurring a loss of Rs65 billion which was reduced to Rs50 billion during the PTI government.

He said country’s exports during the PML-N tenure in 2018 were worth $24 billion while in the PTI tenure our exports were expected to remain to the tune of $32 billion.

The spokesman swanked further that in the agriculture sector, most bumper crops were grown during the PTI government. 

Besides this, the country expects to receive $30 billion in remittances in the PTI tenure while the amount of remittances that the country received during the PML-N government was $19 billion.

The spokesman said during the PTI government, country’s foreign exchange reserves reached historic high i.e. $23 billion whereas during the PML-N government our forex reserves were dipped to $14 billion. 

He maintained that fertilizer sector grew enormously during the PTI tenure. He said that country’s growth rate in the third year of the current government remained 5.6% which was just 3.3% in the third year of the previous PML-N government in 2018. 

The finance ministry spokesman told the media that the International Monetary Fund had even declined to meet then finance minister Ismail Miftah of the PML-N government.